Government’s budget deficit will be capped at 5 percent of GDP from 2019 as part of measures aimed at preventing fiscal slippages, Vice President Dr. Mahamudu Bawumia has revealed. He said the move will put to rest concerns over possible slippages in the fiscal space as the country prepares to exit its three-year Extended Credit …
The International Monetary Fund (IMF) has urged that the government’s midyear budget review focuses on how the government intends to cater for the shortfall in revenue targets for the year. In what seems to be the Fund’s prior knowledge of the focus of the presentation next month, it has welcomed the government’s decision and says …
Provisional figures released by the Ghana Statistical Service (GSS) show that Ghana’s Gross Domestic Product (GDP) for the first quarter of 2018 grew by 6.8 percent. This compares with the 6.7 percent recorded in the same period last year. For the first quarter of this year (2018), the Oil GDP estimate at current prices for …
Renewable energies are energies collected from renewable sources, which are often naturally replenished on a human timescale, such as sunlight, wind, rain etc. [1]. Although it is widely asserted that renewable energies contribute to energy efficiency [2][3][4], future rapid deployment of technological diversification of energy sources would have a significant result in energy security as …
The general price levels of goods and services, otherwise known as the Consumer Price Index, for May 2018 has increased slightly from 9.6 percent recorded in April to 9.8 percent, the Ghana Statistical Service (GSS) data has shown. Commenting on the increment, Acting Government Statistician, Baah Wadieh, said both the food and non-food baskets inflation …
President Nana Addo Dankwa Akufo-Addo at the weekend launched the 2018 Ghana Census of Agriculture at Sefwi Wiawso in the Western Region. The census of agriculture, which started in April this year, ends around July 31, 2018 and will collate data on the sector for its proper planning and development. The programme is a collaboration …
The Bank of Ghana has stated that Fintechs will come under its regulations in the near future to ensure credibility and stability in the financial sector and avoid systematic risks on cyber security and data issues. Representing the Central Bank at Citi Business Festival’s Fintech Summit hosted by the Citinewsroom, Setor Amediku said based on …
The advent of digital, mobile and social media has integrated finance into the daily life of individuals in a way it never was before. Gone are the days when customers needed to carry around wads of cash, limiting their purchasing power at a given moment and creating serious risks of theft. Waves of innovation – …
The Bank of Ghana (BoG) has asked all local banks that may not meet the 400 million cedis capital requirement to present their plan for mergers. This, according to the central bank is to create space for the banks to consolidate their operations with the other entities after December 31st 2018. The Governor of the …
Some Islamic scholars are urging the Bank of Ghana(BoG) to license Islamic banking in Ghana to improve the financial system. The central bank in 2016, withdrew the license it gave to Saudi Arabia-based financial company, Makkah, after the company failed to meet key requirements for the granting of a full operation license on two occasions. …